Edge of Town Development Deal - possible seller finance
Land | 27,206 SqFt
Marketing description
Kingside Investment Group is proud to present a development offering consisting of two adjacent parcels located at 503 W. Athens Boulevard (90044) and 12127 S. Figueroa Street (90061) in South Los Angeles. Together, the sites total 27,206 square feet of R3-1 zoned land with 4,753 square feet of existing improvements, making this a compelling redevelopment or long-term hold opportunity.
The combined purchase price is $1,199,000, reflecting a blended land basis of approximately $44.16 per square foot. Both parcels are ED1-eligible sites, offering the potential for an expedited entitlement and approval process, which can significantly reduce development timelines and execution risk.
With R3-1 zoning, minimal improvement value, and strong assembly fundamentals, the property is well positioned for a multifamily or affordable housing development. For the construction inclined buyer it could also be a reuse of the existing structure.
Investment highlights
· Assembly Opportunity: Combined 27,206 SF of R3-1 land across contiguous parcels.
· Attractive Basis: Blended land cost of $44.16/SF, strong for South LA infill.
· Freeway Adjacent: Unbelievable location next to the 110 Freeway
· Low Improvement Value: Existing buildings support near-land-value pricing, ideal for redevelopment.
· Redevelopment: potential renovation for interim housing, supportive housing, substance abuse housing, re-entry programs, etc.
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